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Economics Past Questions and Answers

Neco Economics Questions

Question 81:

In the equation MV = PT; V stand for ____________

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A Velocity of circulation of money
B Velocity of price change
C Volume of goods produced
D Volume of money
E Volume of transaction

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Question 82:

Which of the following is a major export crop in Nigeria?

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A Cocoa
B Coffee
C Copper
D Kola nut
E Soy beans

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Question 83:

According to the theory of comparative advantages, countries are to specialize based on their

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A Absolute cost advantages
B Absolute cost disadvantages
C Comparative cost advantages
D Comparative cost disadvantages
E The availability of labour

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Question 84:

Equilibrium prices is ____________

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A A price which equates demand with supply
B A price where there is excess demand
C Where consumers gain much
D Where producers gain much
E Where supply is more than demand

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Question 85:

In economics, electricity, water supply, communication networks, road, etc are known as ____________

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A Capital structure
B Development induces
C Development projects
D Infrastructural facilities
E Project growth

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